Offers coverage for the entire lifetime of the insured individual. As long as the premiums are paid, the policy remains in force until the policyholder's death.

Generally has higher premiums, but they remain level throughout the policyholder's life. A portion of the premium goes into a cash value component.

Builds cash value over time. A portion of the premium is invested, and the policyholder can access or borrow against this cash value. It can also be surrendered for a cash payout.

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